Think you're probably in the minority there.
It was sort of a neat idea at the start, to swap in a single piece of equipment that was useful for a specific ability. But what most people take issue with is the way it became about having multiple entire sets of equipment for specific abilities. Having to change out your entire outfit and your jewelry to cast a single spell, and being expected to hold all of those things on your person for every job was outright ridiculous. And then things got even worse with third-party tools that allowed you to really change every piece instantly, resulting in combinations that weren't even designed to be possible like Fast Cast at the beginning of a spell to make it cast faster and then other equipment by the end to make it do more damage or stick better.
In the end, it may make highly specialized equipment more useful for a longer period of time, but it completely negates any sense of item balance and trade-offs in stats.